Quote:
Originally Posted by Byte1
Now is the time to buy, because the prices in the Villages are dropping significantly. Actually, prices are dropping all over Florida and some are saying that they will never rebound to the high prices they were a year ago. There is a large inventory of homes for sale in the Villages, right now and one of their agents told me that they have not seen anything like this in over 30 years of being here.
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As a new buyer, who almost built last, I can confirm this is true for pre-owned homes. Our offer was based on recent sold prices and what an insurance company would insure the house for. Given that most homes are cash transactions, they don’t go through the normal appraisal process required by mortgage lenders.
Could be a combination of inflated prices, market uncertainty, 2 Hurricanes last year casting shade on Florida and people don’t feel the urge to flee blue state politics with a Republican administration in power.
If you are a seller, hold. Real estate always rebounds.